Side-by-Side Duplex with
New
For Sale
Under Contract
$650,000
414 Mathews St, Fort Collins, CO 80524
CONDOS - Other - Fort Collins, CO
Property Size1,604 SF
Lot Size0.17 Acres
Price / SF$405.24
Days on Market6
Property Features for 414 Mathews St
General Information
Property type
Residential
Property subtype
Duplex
Zoning
NCB
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
4
Window features
Window Coverings
Patio and Porch features
Patio
Interior features
Washer/Dryer Hookup
Exterior features
Sprinkler System
Fencing
Chain Link
Appliances
Electric Range, Refrigerator, Washer, Dryer, All Appliances
Subdivision
Ftc
Lot features
Deciduous Trees, Level, House Faces West, Paved, Curbs, Gutters, Sidewalks, Alley
Elementary school
Laurel
Middle school
Lesher
High school
Ft Collins
Elementary school district
Poudre
Middle school district
Poudre
High school district
Poudre
Standard status
Active Under Contract
APN
R0046868
Size
1,604 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4067
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s)
Amenities
washer/dryer
three-season porch
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Group Mulberry
(970) 221-0700
Listed By:
Matt Nesbitt
(970) 690-7155
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 8:06PM
MLS# 1065910
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,604-square-foot side-by-side duplex contains two residences, each arranged with 2 bedrooms, 1 full bath, a three-season porch, washer and dryer, and a new furnace. The 1961 building has brick construction, forced-air heat, window or wall-unit cooling, composition roofing, and a public sewer connection. Electric ranges, refrigerators, washers, and dryers are included in the units.
Set on a 0.17-acre lot in Fort Collins’ Old Town area, the property offers alley access, covered carport parking, and additional off-street parking. Old Town Square and Colorado State University are a short distance away. Both units are currently leased through July 2027, providing an in-place occupancy profile for the next owner.
Set on a 0.17-acre lot in Fort Collins’ Old Town area, the property offers alley access, covered carport parking, and additional off-street parking. Old Town Square and Colorado State University are a short distance away. Both units are currently leased through July 2027, providing an in-place occupancy profile for the next owner.
Key Highlights
- Two‑unit side‑by‑side duplex with 1,604 square feet of building area
- Each unit includes 2 bedrooms, 1 full bath, laundry, a three‑season porch, and a new furnace
- 0.17‑acre lot in Fort Collins’ Old Town area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,459
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,180
$429.2K
Cap Rate 7%
$306,557
$306.6K
Cap Rate 9%
$238,433
$238.4K
Market Conditions
NOI Build-Up for 1,604 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.3K $20.16/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$30.7K $19.11/SF
− OpEx
−$9.2K −$5.73/SF
NOI
$21.5K $13.38/SF
Area
Fort Collins, CO
Vacancy
5.20%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,180
Cap Rate 7%
$306,557
Cap Rate 9%
$238,433
Alternative Uses
Best Use
Multifamily LT 5
$306.6K
$268.2K – $357.7K
NOI $21,459 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$284.5K
$248.9K – $331.9K
NOI $19,913 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$417.7K
$365.5K – $487.3K
NOI $29,238 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 80524, CO
39,030
Population
17,548
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
94%
High-School Grad
122.7 sq mi
ZIP Area
318
Density / Sq Mi
$84,440
Median Household Income
$45,046
Median Earnings
$1,623
Median Rent
$527,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences near Old Town Square and Colorado State University, each with private laundry and a three-season porch.
Where is this duplex located?
The property is located at 414 Mathews St Fort Collins, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 1,604 square feet of building area; Each unit includes 2 bedrooms, 1 full bath, laundry, a three‑season porch, and a new furnace; 0.17‑acre lot in Fort Collins’ Old Town area
